Unit 5 Teesway North Industrial Estate Stockton on Tees TS18 2RR

Unit 5 Teesway North Industrial Estate
Stockton on Tees
TS18 2RR

Freehold Trade Counter Investment

Well established industrial estate location
Let to Edmundson Electrical Limited
VAT-free investment
Located close to A19/A66 interchange
May 2019 Rent Review - a new rent of £45,000 proposed
Lease extension agreed in 2014 extending the lease from 2019 to 2024

Lot
4
Auction
24th October 2019
Rent
£38,300 per Annum Exclusive
Status
Sold
Price
£510,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On Behalf of Wesleyan Assurance

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Freehold Trade Counter Investment

Well established industrial estate location
Let to Edmundson Electrical Limited
VAT-free investment
Located close to A19/A66 interchange
May 2019 Rent Review - a new rent of £45,000 proposed
Lease extension agreed in 2014 extending the lease from 2019 to 2024

Lot 4
Auction 24th October 2019
Rent £38,300 per Annum Exclusive
Status Sold
Price £510,000
Sector
Office
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On Behalf of Wesleyan Assurance

Property Information

Location

Miles: 13 miles north-west of Darlington; 24 miles south-east of Durham; 35 miles south of Newcastle upon Tyne
Roads: A1046, A19, A1032
Rail: Stockton Rail
Air: Durham Tees Valley International Airport

Situation

The property is situated in the well established Teesway North Industrial Estate, just off the A1046 within close proximity to the A19 and within 2 miles of Stockton town centre. Middlesbrough town centre is located 2 miles to the east, with the A19/A66 junction 1 mile to the south. The A66 connects to the A1. The property is located on the western side of Teesway, close to its junction with Pennine Avenue. Other traders in the area include Booker, Wickes, Go Outdoors, McDonald's, B&Q and PTS.

Tenure

Freehold.

Location

Miles: 13 miles north-west of Darlington; 24 miles south-east of Durham; 35 miles south of Newcastle upon Tyne
Roads: A1046, A19, A1032
Rail: Stockton Rail
Air: Durham Tees Valley International Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor and first floor office together with warehouse, staff and storage accommodation. The property has on-site parking within a site of 0.5 acres (0.22 hectares).

VAT

VAT is not applicable to this lot.

EPC

Band D. See legal pack at acuitus.co.uk

Description

The property comprises a ground floor and first floor office together with warehouse, staff and storage accommodation. The property has on-site parking within a site of 0.5 acres (0.22 hectares).

VAT

VAT is not applicable to this lot.

EPC

Band D. See legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First	Office/Warehouse Office/Ancillary	780 sq m 144 sq m	(8,396 sq ft) (1,550 sq ft)	EDMUNDSON ELECTRICAL LIMITED t/a Electric Center (1)	25 years from 01/05/1999 until 30/05/2024 on a full repairing and insuring lease	£38,300	01/05/2019 Rent Review. A new rent of £45,000 proposed
Total		924 sq m	(9,946 sq ft)			£38,300

(1) For the year ended 31st December 2017, Edmundson Electrical Limited reported a turnover of £1,263,885,000, pre-tax profits of £63,470,000 and a net worth of £386,435,000 (Source: Experian 25.09.2019). Electric Center was formed back in October 2006 and is the brightest electrical wholesaler in the country with over 110 branches (Source: ww.electric-center.co.uk).